Republic Bancorp Inc. of Louisville said its fourth-quarter earnings surged 43.5% from a year earlier, to $6.6 million.
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Full-year profits rose 15.2%, to $32.5 million, Republic said Friday.
The quarterly earnings were in line with analyst estimates, but the annual figure missed by a penny.
The $2.5 billion-asset holding company for Republic Bank and Trust Co. attributed the growth to three things: maintaining good credit quality; shifting its sales focus from refinancing residential mortgages to making adjustable-rate commercial loans and home-equity lines of credit; and controlling costs.
Republic's net interest income rose 10.8% for the quarter, to $21.5 million, and 9.5% for the full year, to $90.1 million.
